Adani Group Stocks Soar Amidst Legal Challenges and Strong International Support

The shares of nine out of eleven listed Adani Group companies rose significantly on Friday, with Adani Green Energy and Adani Energy experiencing sharp increases. Despite facing legal challenges, the Adani Group continues to receive strong support from international partners and investors, demonstrating confidence in their green energy and infrastructure projects.

Shares in nine of the eleven listed Adani Group firms ended the day higher, with standout performances from Adani Green Energy, which surged nearly 22%, and Adani Energy, which climbed 16%.

Despite recent legal challenges linked to allegations of corruption, the Adani Group continues to enjoy confidence from key international partners. Abu Dhabi's International Holding Company, a major investor, reiterated its unchanged positive outlook on its investments in the group.

The group is also bolstered by robust endorsements from partners such as the Sri Lanka Ports Authority and the Tanzanian government, which underscored ongoing commitment to existing projects. This comes as rating agency CRISIL affirmed the group's capacity to manage current financial obligations despite legal controversies.

(With inputs from agencies.)